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Neuberger Berman, the asset management firm that spun out of Lehman Brothers Holdings last year, is seeking a total of $1.25 billion (€1bn) for its latest global fund-of-funds offering, according to people familiar with the firm.

NB Crossroads 2010 Fund A Asset Allocation has raised $5 million, according to a June 10 filing, while NB Crossroads 2010 Fund Plan Asset Allocation has attracted $4.1 million, according to an April filing. It is unclear how much the firm has raised so far in total for the new fund of funds.